FB's virtual currency may become real for Indians too

FB's virtual currency may become real for Indians too

Facebook Credits, a virtual currency which enables the users of the social networking site to watch films and buy various applications, may become available in India too.

Beam, a mobile-commerce company, has sought the Reserve Bank of India's permission to make Facebook Credits available in India.

The company was in advanced talks with Facebook, said Beam chairman and managing director Anand Shrivastav.

Facebook has over 600 million global members. It has six million users in India.

"We have a young subscriber base (60 per cent of Beam's users are below 25) and are, therefore, driven by what they want us to do," Shrivastav said, explaining the company's attempt to enter f-commerce (Facebook commerce).

FB's virtual currency may become real for Indians too

Facebook Credits reached a new level of popularity earlier this month when Warner Brothers decided to stream Batman: The Dark Knight on the site.

Facebook's India users missed the opportunity, as they did not have the option of Facebook Credits.

For 30 Facebook Credits (equivalent of $3), one could have watched the 2008 movie over 48 hours, with an unlimited number of pauses. Experts said this was the beginning and movies would become a rage on the site.

The credits are available in 15 currencies, including the dollar, Euro, British Pound and the Danish Krone, among others.